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26 Feb 2015
EUR/USD further choppy trading inside range – AceTrader
FXStreet (Barcelona) - The AceTrader Team gives the technical outlook for EUR/USD, viewing that the recent price action suggests more room for choppy trading within the 1.1270-1.1543 range.
Key Quotes
“The single currency rebounded fm Tuesday's low at 1.1289 to 1.1388 on Wednesday on short-covering, suggesting further choppy trading inside recent established broad range of 1.1543-1.1270 would be seen with neutral bias.”
“Above 1.1400 may bring gain to 1.1450, however, resistance at 1.1499 should cap upside.”
“On the downside, a breach of key daily support at 1.1270 would confirm the corrective rise from Jan's 11-year trough at 1.1098 has indeed ended at 1.1534 and yield retreat to 1.1224 and then 1.1200.”
Key Quotes
“The single currency rebounded fm Tuesday's low at 1.1289 to 1.1388 on Wednesday on short-covering, suggesting further choppy trading inside recent established broad range of 1.1543-1.1270 would be seen with neutral bias.”
“Above 1.1400 may bring gain to 1.1450, however, resistance at 1.1499 should cap upside.”
“On the downside, a breach of key daily support at 1.1270 would confirm the corrective rise from Jan's 11-year trough at 1.1098 has indeed ended at 1.1534 and yield retreat to 1.1224 and then 1.1200.”